Chapter 2 Review of the Accounting Process Exercises 2–23 - Edubirdie

University:
Concordia University Wisconsin
Course:
ACCT 3100 | Intermediate Accounting I
Academic year:

2021
Views:

97

Pages:

1
Author:

Shyanne Johnson

Exercise 2–23 1. Transaction Purchased merchandise on account. 2. Collected an account receivable. CR 3. Borrowed $20,000 and signed a note. CR 4. Recorded depreciation expense. GJ 5. Purchased equipment for cash. CD 6. Sold merchandise for cash. 7. Sold merchandise on credit. (the sale only, not the cost of the merchandise) SJ 8. Recorded accrued wages payable. GJ 9. Paid employee wages. CD 10. Sold equipment for cash. CR 11. Sold equipment on credit. GJ 12. Paid a cash dividend to shareholders. CD 13. Issued common stock in exchange for cash. CR 14. Paid accounts payable. CD 2–40 (the sale only, not the cost of the merchandise) Journal PJ CR

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